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Measuring the Customer Experience

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  • TeleFaction is a “Voice of Customer” Company a results-driven solution which translates objective customer data into actionable insights. These insights provide specific action points for management and individuals to secure revenue, retain customers and increase loyalty. TeleFaction believes that only a daily dialog between the company and its client can create a solid relationship that guarantees long term engagement and loyalty. From our point of view, the recipe for success is: by literally listening to the customer, the company can understand the target market´s needs and therefore is able to provide superior value. We make it possible for our clients by measuring their customer´s experience: we collect information in all touch points - internet, phone call (recorded surveys) and letters -, transform it into data + processes it into knowledge = report the results. And our clients participate during the whole process, giving instant feedback. Unlike other players, TeleFaction offers the whole personalized product by coaching our clients on direction for each action. We do not simply provide numbers and graphs, we talk and guide them. The results from our coaching have a direct impact on both management and employee level.
  • Less time Zero tolerance for waiting time og lack of empowerment More choices than ever before More buying power High expectations and no patience No problems changing vendors/supplier
  • Sources: Giga, Gartner Group, Forester Research, Nuance Cost per Resolved Issue The Cost of Satisfying the Customer Cost per Resolved Issue Email$9.53 Chat$7.86 Online – self-service $6.55 Phone –Call Center$6.17$
  • Apple Ipod + Nike Apple – Social media before social media was invented
  • High-quality interactions drive loyalty as much as the core product/service Custmerthink
  • CEM is the ‘Right Brained’ Approach to Customer Management An emotional connection is key, even for mundane products ie pampers is just no more an absorbent diaper it is now sold as helping the development of your baby
  • Conclusion?
  • Lønsomhed og forretningsmæssig succeshandler ikke om at have det bedste produkt eller den flotte reklamefilm. Det handler om relationer. People do business with people er mere vigtig i dag end nogensinde før. Det er forretningskritisk for virksomheder at kundernes forventninger overgåes eller som minimum indfries. Service quality is not about internal compliance It is about satisfying your customer Gode kundeoplevelser skaber fundamentet for loyalitet
  • Transcript

    • 1. Measuring the customer experience and increasing customer loyalty, customer retention and customer acquisition in the process Fredrik Abildtrup CEO @ TeleFaction A/S The Return on Behavior® Company
    • 2. About TeleFaction - What do we do?
      • TeleFaction is a “Voice of Customer” Company.
      • We offer companies with knowledge and tools to increase customer satisfaction, customer loyalty and additional sales.
      • We do this through real-time customized closed loop feedback methodologies where we listen to the customers.
    • 3. Today’s topics
    • 4. Agenda
      • Why manage experiences?
      • Customer Experience Management (CEM) vs Customer Relationship Management (CRM)
      • How to be successful
      • Case Study – Danske Bank
      • How to do it
    • 5. Poll
    • 6. Why manage experiences?
    • 7. It is though out there! 58% say it is harder to make a reasonable profit, compared to 5 years ago add the Financial crises to that!
    • 8. How to remain successful
      • Staying on top is not easy
        • I.e. Mercedes, General Motors
      • Difficult to hide
        • I.e. Twitter, Facebook, Blogs, websites
      • Shopper help each other
        • I.e. consumerist.com, word of mouth, Google groups
      • That also count for small businesses
        • I.e. reviews by amateurs, ratings etc.
    • 9. Your customers behaviour today ...
      • What has changed over the past 5 years?
      • Customer’s behaviors!
        • Are spreading good experiences, rewarding good service;
        • Bad news are discussed more frequently due to easy access to new channels of communication;
        • Short-term relationship with brands with no bad conscience;
        • No immediate emotional attachment;
        • Difficulty to forgive
    • 10. The voice of the customer – why is this important? A big survey, In Customers Are People, shows, that 70 procent of the customers buying decision are based on how they feel they are being treated. Another survey shows, that 69% of the customers say, that emotions count for more than half of the total buying experience
      • A survey conducted in Denmark, where the customers were asked if they would change supplier if they had a bad customer experience, showed, that
      • 32% would change immidiately,
      • 67% would change if it happened again, and only
      • 1% would not change
      • A good customer experience are told to 8 others
      • A bad customer experience are told to 22 others
      • It takes 10 good experiences to make up for one bad
    • 11. On which channels?
      • 92% of all customer interactions happen via the phone (Gartner)
        • 80 -90% transactions completed
        • 84% view Speech as equal to, or better than Web
      • 85% of consumers are dissatisfied with their phone experience (Gartner)
      • Around 90% of unhappy customers will not buy again from a company that disappointed them
      • 68% of customers will switch brands based on a poor service experience (Gartner)
    • 12. Be distinct or be extinct Idea sourced from Tom Peters
    • 13. Interactions drives loyalty High-quality interactions with people and systems Lowest price or cost of ownership Superior products or services Percent High Importance
    • 14. Poll
    • 15. Customer Experience vs. Management Customer Relationship Management
    • 16. CRM to CEM
      • The right brained approach to Customer Management
    • 17. Build or destroy profits!!!
      • Memorable experiences can lead to customer actions that build—or destroy—profits
      Pleased Comfortable Appreciated Important Special Frustrated Let Down Angry Ignored Confused Recommended to a friend or colleague Praised a company representative Purchased more products/services Continued relationship about the same Complained to a friend or colleague Complained to a company representative Switched to new supplier/provider Purchased less products/services
    • 18. Customer Experience Management… … is or should be the execution of a customer centric business strategy
    • 19. Enterprise managers wear rose-colored glasses
      • Survey:
        • Companies Provide an Excellent Customer experience?
      Net Agreement: Customer +4, Enterprises +34
    • 20. How to be successful
    • 21. To get success – be SMART
    • 22. Customer Value…
      • Companies see customer relationship value this way
      Sales Lifetime value Strategic fit Profit
    • 23. Customer Value…
      • Customers see the value differently
      High-Quality Empowered Employees Rewards for loyalty Honest communication
    • 24. Metrics – The steering wheel
      • Customer focus are visulized through the results of the measurements
        • The customer says that...
        • The customer experienced that...
      • Translate what you mean with customer satisfaction
      • Operationalize your vision through measurements
        • And rememeber you get what you measure!!!
      • Primary areas to create instant results
        • Customer Satisfaction
        • Cross sales/Up sales
        • Operationalization of strategies and values
        • Retention of customers
    • 25. People are the drivers
      • The Top 5 attributes of companies that deliver ”Constantly Excellent Customer Experiences”
      • The key ingredient: People!
        • Well-trained and Helpful Employees
        • Excellent Customer Service
        • High-Quality Goods and Services
        • Friendly and Caring Employees
        • Personal Attention, Reward for Loyalty
      Source: Bob Thompson, CustomerThink Corp.
    • 26. Redesign Experience
      • Customer experiences as parameter for success
        • Every contact with the company gives the customer a chance to evaluate if the experience have been bad / neutral / good
        • Over time these customer experiences will make a lasting impression of the company’s values or the company as a brand
        • Act on the feedback of your customers experiences and reap the benefits of satiesfied customers
    • 27. Use technology to optimize experiences
      • Assess the quality of customer experiences with telephone, online and contact center monitoring and measurement systems
      • Optimize marketing with analysis and campaign management systems to deliver relevant offers
      • Treat customers as individuals and reward their loyalty
      • Provide tools to help employees be helpful and responsive, including sales coaching and support knowledge bases
    • 28. Case study – Danske Bank Group
    • 29. About Danske Bank
      • The Danske Bank Group is the largest financial enterprise in Denmark and one of the largest in the Nordic region.
      • The Group serves personal and business customers through banks with nationwide branch networks in
        • Denmark
        • Sweden
        • Norway
        • Northern Ireland
        • The Republic of Ireland
        • Finland
        • The Baltic states.
      • In total, the Group serves 5 million retail customers and a significant number of public sector and institutional organizations. Some 2 million customers use the Bank's online services.
    • 30. Why Danske Bank focus on CEM?
      • The culture of a company are very difficult to copy, because it is embedded in the people. It also makes it very difficult to change!
        • Internet and legislation generates more transparency in all markets. Products, prices, processes etc. can ‘easily’ be compared by customers and/or copied by competitors.
      • Danske Bank Group has developed and implemented one integrated analytical set-up for measuring customer satisfaction and attraction in the market.
        • Customer Experience in the Moment Of Truth has a key role in this set-up. Other analysis covers other needs.
        • An important role for the Moment Of truth measurements are, that they function as a mirror, when reported back to each team on a quarterly basis.
        • The discussion is ‘no longer’ a conflict between headquarter opinions, branch managers former experience and the advisors first hand experience about a specific meeting. Now the bank looks forward based on the customers view, and on how to improve the next experiences.
    • 31. Where is Danske Bank measuring?
      • Danske Bank is a multi channel bank. The customers interact with Danske Bank Group via various channels, medias and forums.
      • Danske Bank started implemented the Moment Of Truth measurements
        • In the channel with the most contacts (contact centers)
        • And in the channel that created the biggest change (branches)
        • Other channels will follow
    • 32. How Danske Bank is measuring?
      • “ Moment of Truth” - measurements on specific interactions with customers
        • Ask as quickly as possible after the interaction – to have as ‘unpolluted’ answers as possible.
        • Use the data methodology that are most suitable for that specific area – to make it easy for the customers to answer, improve answering rate and keep it cost efficient.
        • Ask only questions related to the specific interaction, and only questions that can and will be acted upon – to make it relevant.
        • Reported back to the people in the organization that can change the next Moment Of Truth - to make it make a difference.
        • Targets, benchmarks, change management tools etc. have been developed - to assist the right amount of focus.
        • Learn from the best, and follow up where needed – to secure the success.
    • 33. What kind of results has been achieved?
    • 34. Results: Actions can be targeted Did you get a better advice in the meeting than expected? Service experience on a scale of 0 to 100, where 100 is best
    • 35. It is the individual team that can make a difference Better service Development over time: Resume on all questions
    • 36. Analyses to find drivers Service experience on a scale of 0 to 100, where 100 is best Average amount of products offered
    • 37. One important finding
      • It is not the surveys alone that makes results
        • The great leap forward comes when you measure AND work systematically with the results
    • 38. Where Danske Bank is using TeleFaction
      • Danske Bank Group use TeleFaction in the whole process from data gathering, data structuring, analyzing, reporting, presenting and follow up.
      • Next steps in corporation with TeleFaction
        • Share leanings with other clients
        • From data to knowledge
        • Prove Return on Behavior
        • Develop feedback management system for actions
      • More information
        • Andreas Wessel Knaack
        • [email_address]
    • 39. Some words on how to do that!
    • 40. Obtaining info on customer needs
      • Surveys
        • Automated Telephone surveys
        • Mail
        • E-mail
        • Live Interview
      • Focus Groups
      • Customer Observation
      • Market Research
      • Customer Complaints
      • Call Monitoring
      The KEY? It is never ending
    • 41. Taking Quality to the Next Level
      • You need to have customers evaluate the service delivery immediately after the interaction
      • ...the best solution is real-time customer feedback.
        • Eliminate the gap between service and evaluation
        • Too late to recover poor interactions
        • Enhances believability of results
      • 50 to 75% less expensive than follow up telephone interviews allowing for continual measurement
    • 42. Taking Quality to the Next Level
      • Respond to questions using telephone keypad or voice
      • Verbatims: capture caller suggestions for improvement
        • Verbatim comments
        • In the customer’s own words (capture the emotion)
      • Identify and highlight employees that delight customers
    • 43. Taking Quality to the Next Level
      • Receive alert of a dissatisfied caller!
        • Pro-actively prevent market damage
        • Service Recovery Opportunities
        • Detect Process and Procedure that are flawed
      • Frequent reporting of customer feedback
        • Daily, Monthly or quarterly, Fact analysis
        • Annual summary presentation
        • Benchmark scores with others
        • Frequency to meet management’s needs
    • 44. Return on Behavior
      • Service quality is not about internal compliance – It is about satisfying your customer
      • It is the change in behavior that gives pay-off in terms of customer experiences
      High Monitoring scores ≠ Customer Satisfaction
    • 45. TeleFaction
      • Fredrik Abildtrup
      • [email_address]
      • +45 5057 5070
      • www.telefaction.com
      • www.returnonbehaviormagazine.com
      • Twitter: http://twitter.com/TeleFaction
      • Linkedin: http://www.linkedin.com/in/fredrikabildtrup
    • 46. Backup slides
    • 47. Polls
      • How frequent are you measuring your customer experience?
        • We are not
        • Daily
        • Quarterly
        • Bi-annual
        • Annually
      • Is any portion of your pay or incentive based on the customer experience?
        • Yes
        • No
    • 48. Polls
      • Do you have a feed-back management process in place for Customer Satisfaction?
        • We are discussing it
        • Yes we have
        • Yes we have – it is IT supported
        • No
      • Are you measuring your customer satisfaction today?
        • Yes, on postal surveys
        • Yes, on postal, web, email surveys
        • Yes, on all channels including telephone
        • Yes, through other channels like panels, store interviews etc.
        • No, we are not
    • 49. Developments in customer approach
    • 50. Create a customer vision/strategy Customer Experience How do we ensure that customers get the same experience across all touch points? On which level must the experience be consistent across all channels? Integration How do we share knowledge of our customers? How do we plan and implement customer activities across the company? How close do we want to integrate ourselves with customers and partners? Balanced effort How do we balance our efforts in relation to the customers value? What effect does that have in our activities? How far will we go? How do we focus on loyalty, retention, additional and cross sales? Customer Expectations When are the customer in touch with us and why? Which expectations do they have and how do we live up to them? How do we communicate with the customers? What impact does customer satisfaction have on revenue and profit? Customer Value Which customers have which value? How do we measure it? Which customers will we attract, retain or develop? Which service will we provide the defined segments? Knowledge of Customers How do we collect knowledge of our customers In which touch points? How do we use this knowledge? How can we enrich and increase our own knowledge
    • 51. About TeleFaction - What do we do?
      • TeleFaction is a global “Voice of the Customer” Company offering real-time customized closed loop feedback methodologies.
      • Our core service is Return on Behavior®, a results-driven solution which translates objective customer data into actionable insights.
      • These insights provide specific action points for management and individuals to secure revenue, retain customers and increase loyalty.
    • 52. Measuring the customer experience and increasing customer loyalty, customer retention and customer acquisition in the process

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